Building society future remains uncertain

MANCHESTER Building Society has posted  a full year loss as uncertainty over its future remains.

It has announced pre-tax losses of £600,000 (2014: £4.3m profit), while operating profit before impairment stood at £2.9m (2014: £4.7m) for the year to the end of December 2015.

Last month Manchester Building Society's directors warned that its accounts would refer to a material uncertainty surrounding the mutual's long-term future, given the continuing decline in the scale of operations.

The mutual, based on Port... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...

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